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Selling local unit to Flipkart, eBay bullish on India

Company expects deal to close in second half of 2017

Alnoor Peermohamed  |  Bengaluru 

The e-commerce company eBay is planning to close the sale of its India unit to Flipkart, a deal which saw the US e-commerce giant investing $500 million for a minority stake in the Indian company, in the third quarter of 2017. The company says it remains bullish about winning the market through its partnership with India's largest e-commerce player Flipkart. The deal will provide buyers on its platform access to Indian inventory and global sellers access to the growing base of buyers in India that shop online. “We believe our $500 million investment along with the ...

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First Published: Sat, April 22 2017. 22:40 IST
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